The two intersecting lines of supply and demand penetrate economics textbooks like Einstein's mass-energy equivalence penetrates physics textbooks. The theory behind the two lines is inherently flawed, says Steve Keen.

It is not possible logically to derive from individuals and their preferences the aggregate demand and supply curves presented in economic textbooks -- unless one is willing to make a host of unrealistic assumptions, such as that all people are alike. That is why the theory is flawed, according to Steve Keen, Professor of Economics at University of Western Sydney in Australia.

The Society for Experimental Finance (SEF) is pleased to announce a regional Asia-Pacific meeting in Brisbane QLD, Australia, on February 9 & 10 2018. The meeting follows a conference of the Economic Science Association (ESA) in the same location and will start with a dinner on Friday (9 February) and a full day of sessions on Saturday (10 February). The keynote speaker will be Professor Elena Asparouhova from the Eccles School of Business, University of Utah.